Tel Aviv Stock Exchange Ltd (OTCPK:TVAVF)

Q1 2026 Tel Aviv Stock Exchange Ltd Earnings Call Transcript

May 12, 2026 / 05:00 PM GMT

Release Date Price: $57 (-0.02%)

Transcript

Key Points

Positve

Tel Aviv Stock Exchange Ltd (TVAVF) reported a substantial 40% increase in revenues compared to Q1 2025, reaching a new high of 183.3 million shekels.
Adjusted EBITDA surged by 87%, with the adjusted EBITDA margin reaching 63%, indicating strong operational efficiency.
The TA35 and TA125 indices posted gains of 12.9% and 9.6%, respectively, outperforming major global indices like the Dow Jones and S&P 500.
Trading volumes on the equities market soared to an all-time high of 5.6 billion shekels, a 92% increase compared to Q1 2025.
Eight new companies completed IPOs during the quarter, raising a total of 1.9 billion shekels, indicating strong market interest and activity.

Negative

Despite the strong financial performance, the Ministry of Finance raised slightly less capital on the Tel Aviv Stock Exchange Ltd (TVAVF) compared to Q1 2025.
The company experienced a decrease in surplus equity and liquidity due to a significant dividend payout of 144.8 million shekels.
Cash flows from investing activities resulted in a negative cash flow of 27.7 million shekels, indicating increased investment in property and equipment.
Marketing expenses decreased by 34%, which could suggest a reduction in promotional activities that might impact future growth.
The geopolitical tensions and multi-front conflict in Israel pose ongoing risks to the stability and predictability of the market environment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TASE.TA - Tel Aviv Stock Exchange Ltd
Q1 2026 Tel Aviv Stock Exchange Ltd Earnings Call
May 12, 2026 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. Welcome to the Tel Aviv Stock Exchange Q1 2026 Results Conference Call. All participants are present in listen-only mode. Following management's formal presentation, instructions will be given for the question-and-answer session. For operator assistance during the conference, please press star zero. As a reminder, this conference is being recorded May 12th, 2026. The recording will be publicly available on the TAIS website. With us online today are Mr. Itai Ben-Zaev, CEO, and Mr. Youda Ben-Ezra, CFO. Before I turn the call over to Mr. Itai Ben-Zaev, I would like to remind everyone that this conference is not a substitute for reviewing the company's annual financial

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